Caritas Communications, Africa’s pioneer energy, oil and gas specialist reputation consultancy has emerged the best Reputation Management Consulting firm at the 2016 African Corporate Excellence Awards. Caritas’ recognition was announced by the United Kingdom-based Corporate Vision (CV) Magazine. Caritas beat other reputation management firms to clinch the award in the consultancy category.

Speaking on the criteria for selecting the winner, George Millar, Publications Editor for the Magazine said winners are decided by a combination of votes gathered from the publication’s network of respected industry partners followed by a rigorous in-house research, carried out by the magazine’s dedicated network of industry insiders and corporate specialists.

He said; “Each award is carefully scrutinised, from a nominee’s region to their performance over the past 12 months, their commitment to innovation, their methods, and even their competition to ensure that only the most deserving firms walk away with one of our prestigious trophies. The awards are based 100% on merit and are a reflection of those in the global consultancy industry currently making a massive impact in firms and industries worldwide”.

Millar added that the award covers industries all over the world from medical to image management and transportation, focusing more on consultants, their approach, and individual attributes and skills.

Commenting on the award, the Managing Director and Chief Executive Officer, Caritas Communications, Mr. Adedayo Ojo described the award as a reward for years of focus, diligence, and innovation. He said the award further affirms Caritas Communications as a value-oriented agency. “We at Caritas Communications are pleased to receive this award especially coming from a reputable international platform like the CV Magazine. We are indeed honoured. The award reiterates our position as Africa’s number one specialist reputation management firm”, he said.

Mr. Ojo added that the award will further inspire Caritas to do more for its clients at a time when companies’ reputations are facing challenges as a result of unfulfilled stakeholder expectation.

VERTEX ASSUMES THE LARGEST SHARE OF FIRST HYDROCARBON NIGERIA (FHN)

2016-10-10

Vertex, an Upstream Nigerian independent funded by African Capital Alliance (ACA), has taken 40% of First Hydrocarbon Nigeria FHN, in a new shareholding structure of the latter. The company is one of two new equity holders of FHN, buying into what used to be Afren’s 70% of FHN. The other newcomer is the FHN Management, now holding 15%. Equity belonging to African Capital Alliance (ACA), an early investor, has increased to 19.9% (from 11.9%).

Equity belonging to African Capital Alliance (ACA), an early investor, has increased to 19.9% (from 11.9%). Earl Act, which held 22%, now has 25.1%. Earl Act is a financial services firm serving as vehicle for a Nigerian lender which has granted substantial loans to FHN.FHN was created by Afren in June 2009 as a vehicle for

FHN was created by Afren in June 2009 as a vehicle for the purchase Nigerian upstream assets. Up until it went into receivership in early 2015, Afren held 70% of FHN, whose main asset is 45% of Oil Mining Lease OML 26, in the western Niger Delta.

Two clear things are clearly identifiable in the current shareholding structure: (1) the FHN Management, which played a significant role in consultations among various minority shareholders, has secured equity as well as continuity for staff and management to run the asset (2), the ACA has both direct and indirect control of 59.9% of FHN shares.

There is a subsisting court case against this shareholding structure; Petroleum Zion, owned by an ex staff of FHN, is arguing that the asset should have been sold to it instead of Vertex and FHN Management.OML 26 was the first of the 2010-2011 class of assets divested by Shell, TOTAL and ENI. The 45% of these majors were sold in April 2010 for $148MM.

OML 26 was the first of the 2010-2011 class of assets divested by Shell, TOTAL and ENI. The 45% of these majors were sold in April 2010 for $148MM.

RESOURCES

Caritas is Africa’s leading reputation management consultancy with specialist services for all sectors of the Nigerian economy, including the power and energy sector. We assist clients to build and sustain reputation while enhancing focus on the bottom line.